Attention! Accumulation on BCD

Attention! Accumulation on BCD

Hi, everyone. Today I want to show you something interesting. Look at BCDUSD chart – 4H.
What I see:
1. Long balance structure (the more the balance is formed, the farther the pump will be)
2. Look at the point 1, 2 and 3. At hits points the price showed a big volume , but the reaction wasn’t bear. It means that this volume wasn’t a bear initiative. Because if it were so, the price goes further down. But everything happened on the contrary, after increased volume , the price stopped falling and even increased slightly. So someone stopped this falling with big buy limits orders.
3. After increased volume the price goes into the balance phase. At the moment, there is an accumulation of position. Activity is still small, but the major volumes could have entered the market earlier.
4. BCD/BTC on historical minimum.

How to act?
1. Wait until the price close above (true breakout) a narrow corridor 0.77-0.84 (timeframe h4)
2. When we will have close price above the 0.84, you can try to find buy positions in range 0.84-0.86.
3. Stop loss 1-2% or below the 0.77
4. First target – 1.0750, Second target – 1.2

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About The Author

Kenneth is a Cryptocurrency Enthusiast and Blogger and has been writing full-time since 2012. He has long been at the forefront of writing about emerging technologies. He has previously written for national level broadsheets as a technology specialist.